PIB Delivers Advanced Training to its Employees on Islamic Financing Structures
The Palestine Islamic Bank concluded a series of advanced training sessions on Islamic financing structures to more than 70 employees including managers and section heads from different PIB branches and departments, delivered by the Sharia Supervisory Board.
While honoring participants to these meetings, PIB General Manager Imad Al Sadi stated that the bank is keen on further strengthening its commitment to Islamic Sharia rules in all its business activities and transactions as part of an ongoing effort to confirm its Islamic identity.
Mr. Al Sadi added: “At a time where the bank’s business is developing and with the launching of new products and state of the art digital services, we are keen on enhancing our commitment to Sharia principles and rules expressed through the guidelines of the Sharia Supervisory Board at the Bank which includes a distinguished group of Palestinian scholars with each having their own contribution in establishing Islamic banking rules in Palestine.”
Al Sadi thanked the Sharia Supervisory Board for its awareness raising efforts in the field of Islamic banking and for enhancing communication with institutions and entities operating in Islamic banking whether internally or externally.
The Chairperson of the PIB Sharia Supervisory Board Dr. Alaa’ Razzie confirmed that the Board used these training workshops to explain the different structures of Islamic financing through the standards of the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) in order to further raise awareness regarding these structures and the importance with regards to the commitment of staff towards executing transactions and business procedures within the different aspects of Sharia law.
Dr. Razzie emphasized that these meetings form part of the strategy of the Sharia Supervisory Board to enhance the competences and awareness of employees in the field of Islamic banking. He also thanked the Bank’s Executive Management for its support during these meetings and for its permanent commitment towards applying Islamic Sharia principles in all of the Bank’s operations while also commending the excellent interaction of participants during these meetings.
The mission and vision of Palestine Islamic Bank aims to provide Sharia compliant, high-quality, modern and comprehensive banking solutions, and to invest in the digitization of its portfolio of products and services. The Bank has established a full-fledged strategy to move towards digital transformation, which led to the launching of a number of pioneering digital services such as the 24-hour digital call center, Islami online and Islami mobile services which offer a wide range of banking services in a user-friendly and secure environment to enhance the digital experience of individual and corporate customers alike. The Bank has also recently received awards for “Best Islamic Bank” and “Best Digital Bank” in Palestine for 2021 according to International Business Magazine.